Popular with investors and traders, Gulf Keystone Petroleum has consolidated nicely over the last few days following a sharp bounce out of the profitable downtrend. I'm perfectly comfortable in switching sides from the short side to the long side like in this case - I'm just following the price action.
Should price go above the recent high then it would be an appealing long set up for someone who trades a trend following system like me.
Just remember this isn't a 'holy grail' - there's no guarantee that the stock will go up - I've just learnt what works best for me, over a period of time and a large number of real trades, and when combined with strict risk management, makes me money.
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